GSP saved American companies over $1.03 billion in 2018, smashing the previous high of $894 million set in 2017. GSP benefited companies in every state – and GSP savings exceeding $1 million for 41 states plus Puerto Rico. The map below shows the overall value of 2018 GSP imports (in blue) and tax savings (in...
Continue readingGSP saved American companies $102 million in April, an increase of over $18 million (22%) from April 2018 and the third-highest level on record. In the first four months of 2019, GSP saved American companies $385 million. That is $75 million more than the same period in 2018 – itself a record-shattering year. For the...
Continue readingNOTE: Updated in September 2020. Since May 2019, the United States has terminated GSP for India and Turkey, and partially suspended benefits for Thailand. Collectively, the decisions cost American companies up to $460 million between May 2019 and July 2020. We’re seeking updated info about lost GSP impacts to use while speaking with Congressi...
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